Here are 10 things you should know for Tuesday, Jan. 7:
1.-- U.S. stock futures were rising and European shares were posting gains early Tuesday, but stocks in Japan declined on the continued strength of the yen.
Japan's Nikkei 225 index fell 0.6% on Tuesday. Hong Kong's Hang Seng index rose 0.1%.
2.-- The economic calendar in the U.S. Tuesday includes the trade balance for November at 8:30 a.m. EST.
3.-- U.S. stocks on Monday declined as investors sold shares on signs of economic softness while digesting mixed growth signals from China.
The S&P 500 fell 0.25% to close at 1,826.77, while the Dow Jones Industrial Average slipped 0.27% to finish at 16,425.10. The Nasdaq closed 0.44% lower at 4,113.68.
4.-- The Senate confirmed Janet Yellen on Monday as the first woman to lead the Federal Reserve.
Yellen, 67 years old, will replace Ben Bernanke, who is stepping down after serving as chairman of the central bank for eight years. Yellen will begin her term on Feb. 1.
Senators confirmed Yellen by 56-26, with numerous absences because of bad weather around much of the U.S. The Associated Press reported. All 45 voting Democrats were joined by 11 Republicans in supporting Yellen, while 26 Republicans voted "no."
5.-- Officials at JPMorgan Chase (JPM) won't be penalized as part of a deal the bank is negotiating with the Justice Department over alleged failures to warn about Bernard Madoff's massive fraud, The Wall Street Journal reported, citing people close to the talks.
Manhattan U.S. Attorney Preet Bharara and U.S. banking regulators intend to announce a total of more than $2 billion in fines this week, the people told the Journal. But all fines will be paid by the company as opposed to individuals, the people added.